Good things come in small packages. Can you believe that the quaint little city of Valrico in Florida, bustling with malls, restaurants, golf clubs and other recreational activities only had a population of 50 people in the early twentieth century?
Today it houses more than thirty five thousand people, and has seen dramatic increase since 2000.
The real estate market in Valrico has shown an improvement since last year, but the months of 2017 have shown some fluctuation in the real estate trends.
Statistical reports in Florida indicate that the active inventory of Valrico saw a decline of about 28% in the period between December 2015 and 2016, with the number of houses reducing from 248 to 178.
The amount of time homes stayed on the market also reduced by a good deal.
The median listing and sales price saw an increase.
Likewise during the time period of June 2016-2017, the active inventory again saw a fall of 28%, with the median listing price increasing to $300000 and number days on the market declining by 40%.
Although these figures sound advantageous for making a home-sale, the number of houses sold fell down to 19%.
Market trends for the first six months of 2017
Median sales price – There was a steep rise from February to March and then a sharp drop in April. It remained reasonably constant until July, and increased to a peak at the months of May and June.
Inventory– Until March it lay at 192, It then witnessed a sharp rise in April only to fall again in May and June by about 12% and 5% respectively. It saw its peak value of 223 during the month of July
Home resale inventories have seen an increase since June 2017.
However, the number of houses sold saw a slight decrease of 2% during the month of June.
The median listing price has also seen a decrease in the month of July compared to June.
The situation of distressed properties, closed sales and foreclosures had not shown any major improvement this year.
A guaranteed House Sale in July!
It can be clearly seen from the data that price hike and a tight inventory need not necessarily mean that sellers can get sell their houses quickly and easily.
Also going by the statistics, the month of July doesn’t seem like the best and brightest for those wanting to do a quick home sale.
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